PRISM founder and world-renowned fraud expert Colin Yates will join Symmetry's team
Warwick, United Kingdom - 01 August 2022 - Symmetry Solutions Limited, a supplier of data and revenue integrity and analytics solutions to the telecommunications sector, has acquired the entirety of the PRISM database and associated anti-fraud services from Yates Fraud Consulting, including their clientele of over 60 major telecoms providers and other businesses around the world. PRISM founder Colin Yates will remain central to the management of the PRISM service in a new role that will see him responsible for educating telcos and law enforcement agencies about fraud whilst growing the range of PRISM intelligence services and accelerating their delivery to new users.
PRISM stands for Premium Rate Intelligence Service and Monitoring and will be rebranded Symmetry PRISM. It is built upon a unique method of constantly collecting and refreshing information about the phone numbers that generate the most profit for fraudsters. This means telecoms providers and other businesses can instantly identify any suspicious activity by their customers, allowing them to proactively suspend or limit a customer's services.
The addition of PRISM will see Symmetry Solutions expanding their portfolio from their traditional strengths in telecoms revenue assurance and data analysis to the allied arena of fraud identification and prevention. PRISM will serve as a natural complement to Symmetry Solutions' other major product lines:
Bill Leahy, CEO of Symmetry Solutions, welcomed Colin to the team.
"You can count on one hand the fraud experts whose name is known to telcos on every continent. Colin Yates is one of those experts. He has given a lifetime of service to law enforcement and then to the telecoms fraud management community, and has deserved all of the many awards he has consequently received. After 18 years with the New Zealand Police, Colin went on to do pioneering fraud management work with Telecom New Zealand, then for Vodafone Group, and latterly through the business he established. PRISM represents one of Colin's key innovations and is unrivaled as a source of intelligence about premium rate frauds.
PRISM is considered an essential anti-fraud service by telcos all over the world. It is also increasingly used by other businesses to protect themselves from fraudsters that try to manipulate them into making expensive calls. It speaks volumes that PRISM has attained such an impressive global user base whilst Colin has continued to enjoy life in his beautiful but remote corner of New Zealand. There was no shortage of rivals that would have jumped at the chance to add PRISM to their product range. It makes me proud that Colin has chosen to become an ambassador for Symmetry Solutions whilst continuing to advise telcos and law enforcement agencies about new and evolving frauds."
Colin Yates explained why working with Symmetry Solutions was the right move for him and his PRISM service.
"When I started PRISM in 2013, I thought it was a service that would prevent a lot of fraud for a few years, then become less relevant as regulators and police forces addressed the root causes of these crimes. Each year I was proven wrong because the fraudsters kept getting cleverer and sneakier. We always need to keep an eye on the criminal fraternity. They grab every opportunity to make a quick buck, even if it means profiting from the humanitarian assistance that many telecoms operators have recently been providing to Ukraine. The frauds we see today are more complex and more difficult to identify than they were in 2013. That's why the number of PRISM users has kept going up.
Keeping a close eye on the fraudsters means we've never allowed them to get ahead of us, but there comes a time when a job like this requires a bigger team. Symmetry has just the right skills to manage the never-ending turnover of data in PRISM, they're dedicated to serving the same kind of customers, and they wanted to preserve and build upon the intelligence gathering approach I developed. We're going to accomplish more by working together."
To learn more about Symmetry PRISM, Symmetry PRO and Symmetry TRAP, please contact us at:
Symmetry Solutions Ltd
6 Corunna Court
+44 7738 040349
About Symmetry Solutions
Symmetry Solutions were founded in 2010 and have well over 150 years of combined experience in the telecom, revenue assurance and billing field. We know our industry like the back of our hands, we simply love data and we thrive on new challenges. There's no problem too big or too small and we dedicate our utmost energy to every project we take on with the highest professionalism and commitment.
About Yates Fraud Consulting
Yates Fraud Consulting Limited is a specialist communications fraud and revenue risk consultancy founded by Colin Yates, a well-known and respected former Head of Fraud Management and Investigations for Vodafone Group. Colin has been called upon to provide advice and assistance to the International Telecommunication Union (ITU), police forces and law enforcement agencies. Yates Fraud Consulting developed PRISM, a database of international premium rate numbers and other numbers that serve as an early identifier of a fraud attack and is credited with avoiding fraud losses worth millions of dollars.